For a business owner, obtaining the right information is as important as finding the right location, or getting the best price.
The Small Business Development Center in New York is one of only a few SBDCs in the U.S. with a full-time library (which we call the Research Network). Its services are available for free, but only to New York SBDC clients.

Monday, August 31, 2015

As we prepare to move office, I came across a set of booklets we have. They are from BoardSource and they cover topics such as Structures and Practices of Non-Profit Boards and Ten Basic Responsibilities of Non-Profit Boards. I went looking for current editions of these works and discovered this article:

The BridgeSpan Group surveys non-profit organizations to help them get a feel for their strengths and weaknesses. When they surveyed 131 non-profits, what they discovered was that for all their strengths, they were falling behind in other areas.

The average score across all statements is 2.92. Overall nonprofit organizations exhibit important strengths: leadership’s vision, having skilled and effective staff, and having an inspiring culture that promotes values and produces results. However, those very strengths are often undermined by what they consider to be their organizational weaknesses, which include their nonprofits’ ability to develop and build staff skills over time.

The BridgeSpan Group

So, they claim they feel their staff are "skilled and effective" but haven't and have no plans to develop them. You can see the full article at the The Bridgespan Group site.

The high cost of these keywords is the result of competitive bidding, according to the report. For mesothelioma-related keywords, attorneys set high bids in Google AdWords because they stand to receive large sums of money when a plaintiff in a lawsuit gains a favorable judgment or settlement.

One thing to note is that keywords with the highest average CPCs tend to be more niche and do not generally correlate to the biggest overall ad spends.

An analysis of 2014 data by Adgooroo found the top keywords by spend are for the most part broader terms, such as "free credit report" and "car insurance."

Sunday, August 30, 2015

The use of technology for bettering health is on the rise. Indeed, wearables and similar markets are projected to grow by leaps and bounds in the coming years. In this slideshow, PersonalTech MDM shows where the boom is expected to happen and what practitioners should know. Special thanks goes to the New Jersey Institute of Technology’s online Master of Science in computer science program for allowing us to use this data.

Saturday, August 29, 2015

When Hurricane Katrina hit New Orleans ten years ago this week, it devastated the local business community as well as individual citizens. According to a report by ABC News, insured losses alone totaled $40 billion.

That’s a sobering statistic given the inevitability of disasters and emergencies. It can be especially daunting when you think about the whole range of potential events. Natural disasters, technological failures, pandemic—the list goes on. The good news is that you can take steps now to prepare for disasters, mitigate potential damage and plan for how your business will recover.

Hurricane season is already underway in the Atlantic and Pacific, and September starts National Preparedness Month with this year's theme of "Don't Wait. Communicate. Make Your Emergency Plan Today," so read on for tips, resources and training to help make sure your business is prepared and can recover when disaster strikes.

What Did We Learn?

Hurricane Katrina left disaster and loss in its wake. But it also left behind countless lessons about how businesses can better prepare for and respond to devastating storms.

Friday, August 28, 2015

Sentiment among sole proprietors and other small business owners fell in July, according to the latest Thumbtack survey, suggesting similar readings in other surveys. Thumbtack noted concerns about future conditions and referenced headlines about Greece. Inflation expectations fell further and employment sub-indexes were lower. The Thumbtack index of small business sentiment has shown a tendency to anticipate moves in other sentiment indicators.

• The Thumbtack sentiment index dropped... Its three-month moving average has also declined modestly, bringing it in line with declines in major consumer sentiment surveys, although it has remained somewhat more resilient than the Small Business Optimism Index published by the National Federation of Independent Businesses (NFIB). All four indexes have declined over the course of 2015.

Thursday, August 27, 2015

The National Labor Relations Board in Washington on Thursday made it substantially easier for unions to bargain for higher wages and benefits, potentially opening the door for organized workers at fast food chains and other franchises to negotiate with the larger corporations, like McDonald’s and Yum Brands, rather than with individual restaurants, where they would have a harder time achieving their goals.

The ruling, which may eventually be challenged in court in a variety of individual disputes, changes the definition of a crucial employer-employee relationship that had held in some form since the 1980s. Now, a company that hires a contractor to staff its facilities may be considered a so-called joint employer of the workers at that facility, even if it does not actively supervise them.

A union representing those workers would now be legally entitled to bargain with the upstream company, not just the contractor, under federal labor law.

Saturday, August 15, was National Relaxation Day, a day dedicated to unwinding and enjoying our personal lives. But for most of us, relaxing on the weekend isn't the challenge. We could all do with a little less stress at work, too.

In this newsletter, we look at how stress affects business owners, executives and employees as well as what to do about it.

The Biggest Driver of Stress: Lack of Control

No one is surprised to learn that owning a small business is intensely stressful. It certainly isn't a surprise to business owners.

One study points to lack of control as the largest source of stress. Even worse, obsessing over things that you don't have the power to change can have physiological effects such as raising your blood pressure and emotional effects like reduced confidence.

Wednesday, August 26, 2015

Few would argue that a finely-tuned message is key to the success of an email marketing campaign. At the same time, the styling and delivery of the message can be equally, if not more, important than the message itself. The way your email appears to both people and spam filters can make or break your campaigns.

Unfortunately, the preferences of users and spam filters are directly opposed in some cases. The only way to ensure that your email gets delivered and received well is to create email content with both sets of preferences in mind. For your convenience, here are our set of email content do’s and don’ts.

Do

Proofread Your Content – This one should be self-explanatory. Spam filters key in on typos and sentences that don’t make sense as signs of spam. For human recipients, errors look unprofessional and careless.

Monday, August 24, 2015

The preliminary results from the 2012 Survey of Business Owners (SBO) are now available from American FactFinder.

As part of the Economic Census, which is conducted every five years, the Survey of Business Owners uses a sample of 1.75 million employer and nonemployer businesses. The results provide estimates on firms, receipts, payroll and employment by gender, ethnicity, race and veteran status.

The preliminary release provides a high-level snapshot prior to the final release.

Sunday, August 23, 2015

Did you know that an important shift is occurring with card payment technology that might impact your business? Keeping up with the newest, most secure card payment technology is very important for small business owners. SBA has teamed up with Square to help small businesses navigate the upcoming transition from magnetic stripe to chip card technology.

Webinar | What Small Businesses Need to Know About The Switch to Chip Card Technology
Wednesday, August 26, 2015 | 2:00 pm ET

Saturday, August 22, 2015

The Office of Advocacy has released its Quarterly Lending
Bulletin, Small Business Lending: First Quarter 2015.
This report shows that small business borrowing conditions continued to improve
gradually in the first quarter of 2015. For example, the percent change in
small business loans outstanding (in amounts of $1 million or less) remained
positive or unchanged for the sixth consecutive quarter. Small business loans
outstanding totaled $595 billion and remained relatively flat from the previous
quarter, but year-over-year (Q1 2014 to Q1 2015) showed an increase of 1.7
percent.

Friday, August 21, 2015

Branding is one of the most important aspects of any business, large or small, retail or B2B. An effective brand strategy gives you a major edge in increasingly competitive markets. But what exactly does "branding" mean? How does it affect a small business like yours?

Simply put, your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from your competitors'. Your brand is derived from who you are, who you want to be and who people perceive you to be.

Are you the innovative maverick in your industry? Or the experienced, reliable one? Is your product the high-cost, high-quality option, or the low-cost, high-value option? You can't be both, and you can't be all things to all people. Who you are should be based to some extent on who your target customers want and need you to be.

The foundation of your brand is your logo. Your website, packaging and promotional materials--all of which should integrate your logo--communicate your brand.

Thursday, August 20, 2015

Our well loved Arts Center of the Capital Region in Troy is sending out a call to artists and arts organizations. The NYS Council on the Arts (NYSCA) Decentralization program is in partnership with the Arts Center to reach possible applicants in Albany, Rensselaer and Schenectady Counties. Even more money has been allocated this year than last. The Arts Center will even help with the process. Deadline to register is October 23, 2015. All the details are available on their website along with other programs for playwrights, poets and other creatives.

Wednesday, August 19, 2015

What’s the first thing that prospective customers see when they approach your business? Your signage tells them where you are, draws their attention and attracts them into your business (or possibly drives them away). Summing up your business brand for the world to see, your business signage creates that all-important first impression. How can you ensure it’s a good one? Whether you’re developing signage for a new business, or updating signage for an existing business, here are some things to consider.

Tuesday, August 18, 2015

The company employee handbook is one of the most important communication tools between your company and your employees. Not only does it set forth your expectations for your employees, but it also describes what they can expect from the company. It is essential that your company has one and that it be as clear and unambiguous as possible. Make certain that it is written in an understandable language which makes the company's policies accessible.

The company employee handbook and related personnel policies are usually the first formal communication that you will have with an employee after they join your team. Make sure the first impression is a good one. Similarly, in the event of a dispute or poor performance review, this will be the first place that the employee turns.

Monday, August 17, 2015

Everyone has to deal with the nitty-gritty details of starting a business; no matter your industry, getting started safely and legally involves at least a little red tape.

You need to make your business an official legal entity, and take an in-depth look at what permits and licenses you need at the local, state, and federal levels to be able to operate your business without fear of being hit with a fine—or worse, having to close down.

The term "business license" is a bit misleading as it makes it sound as if there is one license you apply for, sort of like a driver’s license, that you obtain and—voila! You’re legally in business. That is not the case.

The U.S. Department of Labor (DOL) is committed to providing America's workers, employers, job seekers, and retirees — with clear and easy-to-access information on how to comply with federal employment laws. This information is often referred to as "compliance assistance," which is an important part of the Department's efforts to protect the wages, health benefits, retirement security, employment rights, safety, and health of America's workforce.

Thursday, August 13, 2015

Most businesses need to raise external funding from investors to take their company to the next level. An early stage startup will want to access funds to help further validate its business proposition.

A more established business that already has traction may be looking for funding to help accelerate growth. Whatever stage your business is in, if you are seeking investment, determining how much funding you should raise is absolutely critical.

The dangers of raising too little:
Incorrectly assessing your funding need has serious repercussions on your business. It will lead to inadequate validation of your proposition, or to executing growth initiatives that do not materially move the needle. Whatever the case, the business is left in limbo.

The dangers of raising too much:
So, raising more funds than are needed is the right approach to take, right? Not necessarily. Just as raising too little is risky, raising too much funding is fraught with its own dangers.

Wednesday, August 12, 2015

Economic educators are always trying to find new ways to breathe fresh air into the economics classroom and to get away from conventional “chalk talk” methods made famous in movies such as “Ferris Bueller’s Day Off” (1986). I know we all remember Ben Stein putting the class to sleep during a macroeconomics class.

A new article in the most recent edition of the Journal of Economics and Finance Education suggests a novel approach for capturing students’ attention: using the TV show “Parks and Recreation” to teach economics. The authors, L. Brooke Conaway and Christopher Clark, name this method “Swansonomics,”after Ron Swanson, a libertarian leaning character in the show. “Parks and Recreation,” a popular show on NBC, concluded after seven seasons in February.

The idea of using TV shows as teaching methods for economics has been researched and blogged about before, specifically with “Seinfeld,” “The Simpsons,” and “The Office.” These shows provide teachers with methods to make economics more palatable and engaging for students.

Tuesday, August 11, 2015

Several office tasks are perfect candidates to automate -- without sacrificing the well being of your business.

In fact, some of these tasks not only save time, but also can actually be done better through automation. Automation makes it less likely that (a) you’ll forget; (b) tasks will fall through the cracks if an employee leaves; (c) mistakes will occur through repetitive entry of information.

Here are seven tasks that you can and probably should consider automating to get things done faster and more reliably:

Monday, August 10, 2015

You’ve successfully launched your business, and built up a solid—if small—customer base. Starting small has its benefits; after all, it allowed you the opportunity to cultivate a loyal relationship with your customers. By now, you’ve had time to work out any kinks, and you’re confident that your product or service is truly the best your business can offer.

Now, you’re eager to expand and grow your business. But, growing your customer base is much easier said than done. How do you get more customers for your business? I asked the Young Entrepreneur Council for their input, as well as Palo Alto Software’s Caroline Cummings and Tim Shoemaker. From marketing tactics to better networking, try these tips and watch your customer base grow quickly.

Thursday, August 06, 2015

In a previous post we talked about deciding if a business is franchise worthy. The next step is the big one.

It’s one thing to do market research on a business idea, it’s quite another to open your checkbook and put your money where your idea is.

Here are a few things you’ll need to do to get your business going, and to get it franchise-ready.

Open A Store

In the case of Just Socks, my hypothetical idea, the next step assuming that the data found in the market research step was positive for a retail store like this, would be to open one up.

And, unless you have the money needed to open a retail store, including furnishings, signage, and of course, inventory, you’re going to need to get a small business loan.

The first step: Visit a local bank that offers small business lending, hopefully one that participates in programs administered by the SBA. Loans approved by the SBA offer certain guarantees for participating banks. Check out SBA LINC, a free tool that connects borrowers with SBA-approved lenders.

Make Sales

Once your store is open, you have to make sales, lots of them.

You’ll need to do a lot of marketing. You’ll need to find ways to draw foot traffic into your store. You’ll also need to document everything you do. Things like:

Wednesday, August 05, 2015

Most of us aren't that engaged at work, as it turns out. Even a few years ago, we were wasting tens of billions in wasted meetings and unnecessary distractions at work. Today, some survey takers admit to wasting up to half the day on non-work-related distractions.

If that's you, you may just be a bad employee — and admitting that is the first step. For the rest of us, those that are wasting a paltry 30 minutes or so, who feel generally disengaged, the solution may seem a lot more superficial: you're underpaid.

This is a major shift from the sentiments of yesteryear, when boomers could pride in barely having two nickels to rub together but still work their way up to a leadership role. Today's reality is that while the economy has made strides toward recovery, wage growth over the last generation has taken a prolonged coffee break.

Tuesday, August 04, 2015

When you’re ready to launch a startup, the name of the game is research. You need to tap every resource you can to learn the ins and outs of business. From securing funding to marketing your business, there’s a lot to consider.

There are hundreds of resources online, but searching for worthwhile sites is time consuming and sometimes unsuccessful. So, we did the work for you.

We’ve put together a list of 34 resources that will play a role in your startup. This list is broken into categories and is meant to be a one-stop-shop for aspiring entrepreneurs.

Monday, August 03, 2015

Webinar | Social Media 101: A Roadmap to Winning Customers

Thursday, August 13, 2015 |
2:00 PM ET

Do you have questions about
the best way to market your new or existing small business? Join the Small
Business Administration (SBA) and AARP during a free hour-long webinar on
August 13 to learn about:

Visit the NY SBDC website

About the blog:

The Research Network aims the content of this blog primarily at the New York Small Business Development Center (NY SBDC) community on the kinds of things we encounter every day. Views expressed are those of the Research Network staff, and not necessarily those of the New York SBDC or its partners. Comments to an individual post are encouraged. Such comments will be monitored, so please, keep them clean and professional.

Definition of a small business by the US federal government

Definition of a small business in the state of New York

Consolidated Law for the State of New YorkEconomic Development Law § 131§ 131. Definition of a small business. For the purposes of this chapter, a small business shall be deemed to be one which is resident in this state, independently owned and operated, not dominant in its field and employs one hundred or less persons.

World Reference

The NYS SBDC, administered by the State University of New York, is funded in part through a cooperative agreement with the U.S. Small Business Administration. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.